Gilead Sciences, Inc. (NASDAQ:GILD) Shares Sold by Sumitomo Mitsui Trust Holdings Inc.

Sumitomo Mitsui Trust Holdings Inc. trimmed its holdings in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 14.8% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,968,143 shares of the biopharmaceutical company’s stock after selling 516,559 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned 0.24% of Gilead Sciences worth $203,644,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently added to or reduced their stakes in the business. Norges Bank purchased a new position in shares of Gilead Sciences in the 4th quarter valued at $1,301,624,000. The Manufacturers Life Insurance Company boosted its position in shares of Gilead Sciences by 78.8% in the 4th quarter. The Manufacturers Life Insurance Company now owns 7,632,000 shares of the biopharmaceutical company’s stock valued at $618,268,000 after purchasing an additional 3,362,505 shares during the period. Vanguard Group Inc. grew its stake in Gilead Sciences by 2.6% during the 1st quarter. Vanguard Group Inc. now owns 114,732,575 shares of the biopharmaceutical company’s stock worth $8,404,161,000 after buying an additional 2,910,147 shares during the last quarter. Wellington Management Group LLP lifted its stake in Gilead Sciences by 14.4% in the fourth quarter. Wellington Management Group LLP now owns 18,630,134 shares of the biopharmaceutical company’s stock valued at $1,509,227,000 after buying an additional 2,350,550 shares during the last quarter. Finally, Swedbank AB acquired a new stake in shares of Gilead Sciences in the first quarter valued at approximately $134,489,000. Hedge funds and other institutional investors own 83.67% of the company’s stock.

Insider Activity at Gilead Sciences

In other Gilead Sciences news, insider Johanna Mercier sold 5,490 shares of the business’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $73.98, for a total value of $406,150.20. Following the completion of the transaction, the insider now directly owns 114,979 shares in the company, valued at approximately $8,506,146.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Merdad Parsey sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $68.63, for a total value of $137,260.00. Following the sale, the insider now directly owns 96,380 shares of the company’s stock, valued at $6,614,559.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Johanna Mercier sold 5,490 shares of the company’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $73.98, for a total transaction of $406,150.20. Following the transaction, the insider now directly owns 114,979 shares of the company’s stock, valued at approximately $8,506,146.42. The disclosure for this sale can be found here. Insiders own 0.16% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on GILD shares. BMO Capital Markets upped their price target on shares of Gilead Sciences from $80.00 to $85.00 and gave the company an “outperform” rating in a research report on Friday, August 9th. Evercore ISI upgraded shares of Gilead Sciences to a “strong-buy” rating in a research report on Friday, August 9th. Robert W. Baird reaffirmed a “neutral” rating and issued a $80.00 target price on shares of Gilead Sciences in a report on Thursday, June 20th. Maxim Group cut their price target on shares of Gilead Sciences from $90.00 to $85.00 and set a “buy” rating for the company in a report on Wednesday, May 1st. Finally, Morgan Stanley reduced their price target on Gilead Sciences from $80.00 to $78.00 and set an “equal weight” rating for the company in a report on Friday, April 26th. Twelve research analysts have rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Gilead Sciences has an average rating of “Moderate Buy” and a consensus price target of $81.94.

Gilead Sciences Price Performance

Gilead Sciences stock traded down $0.56 during mid-day trading on Friday, hitting $73.78. 5,148,098 shares of the company were exchanged, compared to its average volume of 7,321,358. The business’s 50 day simple moving average is $70.80 and its two-hundred day simple moving average is $70.26. Gilead Sciences, Inc. has a 12-month low of $62.07 and a 12-month high of $87.86. The company has a market capitalization of $91.92 billion, a P/E ratio of 204.94, a PEG ratio of 3.37 and a beta of 0.18. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.08 and a quick ratio of 0.94.

Gilead Sciences Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 13th will be given a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a dividend yield of 4.17%. The ex-dividend date of this dividend is Friday, September 13th. Gilead Sciences’s dividend payout ratio is presently 855.56%.

Gilead Sciences Profile

Gilead Sciences, Inc, a biopharmaceutical company, discovers, develops, and commercializes medicines in the areas of unmet medical need in the United States, Europe, and internationally. The company provides Biktarvy, Genvoya, Descovy, Odefsey, Truvada, Complera/ Eviplera, Stribild, Sunlencs, and Atripla products for the treatment of HIV/AIDS; Veklury, an injection for intravenous use, for the treatment of COVID-19; and Epclusa, Harvoni, Vemlidy, and Viread for the treatment of viral hepatitis.